Updated Dec 19, 2023
Andy Weiss & Andrew Dansker Of Marcus & Millichap Represent Buyer In $6.6M Multifamily Acquisition On UES
223 E 89th St, New York, NY 10128, USA
$6,600,000
$63/SF
Building Size
104,650 SF
Asset Type
MultiFamily
Closing
Jun 27, 2019
About this deal
AI
The multifamily property located at 223 East 89th Street in the UES neighborhood has been involved in a closed transaction. The property spans 10,471 square feet and was sold for a total of $6,600,000. The property is owned by Jose Serruya and was financed by Ridgewood Bank. The deal was facilitated by Andy Weiss and Andrew Dansker of Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,600,000
- Square Footage: 10,471
- Address: 223 East 89th Street
- Market: UES
- Lender: Ridgewood Bank
- Landlord: Jose Serruya
- Brokers: Andy Weiss, Andrew Dansker - Marcus & Millichap
Andy Weiss and Andrew Dansker, representing Marcus & Millichap, played a crucial role in the completion of this transaction. Their expertise and negotiating skills helped secure the sale of the multifamily property at 223 East 89th Street.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93